Companies /Basic Materials
MP Materials Corporation
NYSE: MP Other Industrial Metals & Mining
$35.41
▲ $1.67 (+4.95%) today
Markets closed · 5:24pm ET

MP Materials (MP) Q3 2026 Earnings

Reported Nov 5, 2026, 4:04pm ET · SEC source
$0.04
Beat +516.67%
EPS · est. $-0.01 Adjusted

Quarter benefited from a $31.6 million SEG+ sale to a U.S. aerospace and defense customer and $8.1 million of PPA Income; Adjusted EBITDA reflects a $6.4 million reserve on certain non-core product inventories. Adjusted EPS excludes $12.6 million initial start-up costs, $11.3 million stock-based compensation and an $8.9 million change in fair value of derivative instrument.

$147.7M
Beat +24.23%
Revenue · est. $118.9M
1 quarter
Consecutive EPS beats

How Did MP Stock React to Q3 2026 Earnings?

% change · around the report
−6%−3%0Nov 5Nov 6report 4:04pm ETearnings+0.5%+0.2%
−6%−3%0Nov 5Nov 6earnings+0.5%+0.2%
MP +0.2%S&P 500 +0.5%
−6%−3%0+3%Nov 5Nov 6report 4:04pm ETearnings+1.5%+0.2%
−6%−3%0+3%Nov 5Nov 6earnings+1.5%+0.2%
MP +0.2%NASDAQ +1.5%
−4%0+4%Nov 4Nov 6report 4:04pm ETearnings+0.7%+2.3%
−4%0+4%Nov 4Nov 6earnings+0.7%+2.3%
MP +2.3%S&P 500 +0.7%
−5%0+5%Nov 4Nov 6report 4:04pm ETearnings+1.9%+2.3%
−5%0+5%Nov 4Nov 6earnings+1.9%+2.3%
MP +2.3%NASDAQ +1.9%
+4.95%
Day of report

Did MP Beat Earnings? Q3 2026 Results

Yes. MP Materials reported Q3 2026 earnings of $0.04 a share on Nov 5, 2026, beating the $-0.01 consensus estimate by 516.7%. Revenue was $147.7M against a $118.9M estimate.

MP Materials delivered a sharp earnings beat in the third quarter of 2026, posting adjusted EPS of $0.04 against a consensus estimate of negative $0.01, a 516.67% positive surprise, while revenue of $147.66 million topped the $118.86 million estimate by 24.23% and surged 175.7% year over year. The quarter's standout driver was a $31.6 million one-time sale of SEG+ material to a U.S. aerospace and defense customer, booked within the Materials Segment, which combined with sharply higher NdPr oxide volumes and stronger market pricing to push Materials Segment Adjusted EBITDA to $47.83 million, swinging from a loss of $14.52 million a year earlier. NdPr oxide production at Mountain Pass climbed 41% year over year to 1,018 metric tons, while NdPr sales volume nearly doubled, rising 94% to 1,020 metric tons. Some observers had questioned the company's reliance on government price support arrangements, and while $8.1 million of PPA income contributed to results, the quarter demonstrated meaningful commercial momentum beyond that floor. Looking ahead, MP completed General Motors magnet qualification, with saleable magnet deliveries and revenue set to begin in the fourth quarter, as the company also advances its long-term Apple magnet supply agreement and heavy rare earth separation capabilities.

Key Takeaways
  • NdPr production up 41% YoY to 1,018 MTs; NdPr sales volume up 94% YoY to 1,020 MTs
  • Higher NdPr oxide and metal sales and stronger market pricing; NdPr oxide and metal revenue up 227% YoY
  • $31.6 million sale of SEG+ to a U.S. aerospace and defense customer
  • $8.1 million of price protection agreement income in the Materials Segment
  • Offsets: higher cost of sales from volume growth, $6.4 million reserve on non-core product inventories, and higher SG&A from headcount growth
  • Start-up costs rose to $14.2 million from $1.4 million on initial magnet production ramp
  • Lower magnetic precursor revenue due to start-up of magnetics production at Independence

“MP Materials delivered a strong quarter of growth across production, sales, and earnings.”

MP Materials CEO, on the earnings call

What Is MP Materials's Outlook?

MP Materials completed GM magnet qualification, with saleable magnet deliveries and revenue commencing in Q4 2026. Forward-looking priorities include: - Continued ramp of NdPr oxide production and shipments. - Expansion of heavy rare earth separation capabilities. - Development of the 10X Facility. - Achieving run-rate production of metal and magnets. - Execution of future phases of the Department of War Transactions. - Supplying U.S.-produced magnets under the long-term Apple agreement. No quantitative financial guidance was provided.

MP YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$50.0M$100.0M$150.0M$53.6M$147.7MRevenue$-13,201,269$-22,058,000Operating Income$-13,767,201$-20,710,000Net Income
$0$50.0M$100.0M$150.0MRevenueOperating IncomeNet Income
MP income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $147.7M $53.6M +175.7%
Operating Income −$22.1M −$13.2M +67.1%
Net Income −$20.7M −$13.8M +50.4%

MP Revenue by Segment

Materials Segment$133.5M+322.0%
NdPr Oxide and Metal$101.0M+227.0%
Rare Earth Concentrate
Magnetic Precursor Products$18.6M−15.0%
Magnetics Segment$18.6M−15.0%

Figures from SEC filings and company reports. Not investment advice.